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a compromise. >>> and less dairy for your dollar. without action by congress by new year's day, milk prices could skyrocket. >> if we want to continue to eat, the bill needs to be passed. that's where we get our food, people. captioning funded by cbs >>> this is the "cbs morning news" for friday, december 28th, 2012. good morning. good to be with you. i'm duarte geraldino. this afternoon president obama will meet with congressional leader to try to come to a deal to avoid the so-called fiscal cliff. they've been called into a sunday evening session just in case some deal can be reached. boehner is expected to attend the white house meeting but he's made it very clear. the next move is up to the senate. tara mergener has more. >> good morning, duarte. both sides say they are eager to talk and ready to strike a deal. the fiscal cliff is still a few days away, but business owner don carlino says he's already feeling the impact. >> a lot of our customers are holding back, they're apprehensive. they're not committing to projects. they're waiting to see what happens with the fiscal cliff. >> hope
in congress since the korean war 60 years ago. a vote on a compromise agreement that neither party loves. >> virtually no 1 believes that what we have before us tonight is a long-term solution. >> it reminds me of the jokes were used to have, where someone stops hitting you in the head with a hammer and you're supposed to say thank you so much for the relief. >> in the end, house democrats were joined by enough republicans for the agreement to become law. as for the president to deliver on a campaign pledge, that the rich would pay more to help reduce the deficit. >> i will sign a law that raises taxes on the wealthiest 2% of americans wall preventing a middle-class tax hikett for -- while preventing a middle-class tax hike. >> they have agreed that the wealthiest americans will pay more income tax. individuals earning more than $400,000 a year deep spending cuts of more than $100 billion have been delayed for two months which means there will be another round of haggling at the beginning of march. the u.s. government will hit what is known as the debt ceiling, the limit for borrowing an
in case congress does not vote on a compromise to avoid the physical cliff. nearly every american's paycheck is about to shrink until they prevent the tax hikes from kicking in january 1st. president obama said he will propose another vote in case they don't vote on it. >> i will urge the senate to hold an up-or-down vote that protects the middle class from an income tax hikes and extends unemployment americans look for a job and lays progress for more economic growth and deficit reduction. i believe such a proposal could pass both houses with bipartisan majorities as long as these leaders allow it to come to a vote. >> republican house speaker john boehner said he's willing to bend on raising tax force the wealthiest americans to avoid the physical cliff. >>> don't be surprised if you come across a dui checkpoint in your neighborhood over the next few days. the highway patrol and other law enforcement agencies have their checkpoints in place. >>> a bay area law maker is proposing a new solution for getting repeat drunk drivers off the roadways. it's already being as youd in other
, abc7 news. >> new this morning president obama is making alternative plans in case congress does not vote on a compromise to avoid the fiscal cliff. nearly every american's paycheck is about to shrink until they prevent the tax hikes from kicking in january 1st. >> while conditional leaders work on a way to avoid it, president obama said he will propose another vote in case they don't vote on it. >> i will urge the senate to hold an up-or-down vote that -- on a basic package that protects the middle class from an income tax hikes and extends unemployment americans look for a job and lays the ground work for more economic growth andç deficit reduction. i believe suchmy a proposal coud pass both house was bipartisan majorities as long as these leaders allow it to come to a vote. >> republican house speaker john boehner said he's willing to bend on raising taxes for the wealthiest americans to avoid the fiscal cliff. >>> don't be surprised if you come across a dui checkpoint in your neighborhood over the next few days. the highway patrol and other law enforcement agencies have the
congress, if you don't compromise, the american people are hurt and the country is hurt and the economy is hurt. >> that's what americans want to hear. that compromise is reached there. congressman steny hoyer of maryland thank you so much for your time. senator harkin on the floor speaking, not also agreeing with the terms of the deal. appreciate your time. >> you bet. thank you. >>> we have many more voices weighing in. republican congressman tom cole of oklahoma joins us live in a few moments and later this hour we'll hear from congressman steve israel, democrat from new york. stick around for that. >>> the other big developing story we're following, secretary of state hillary clinton in a new york city hospital this morning being treated for a blood clot. her spokesperson says the clot was discovered during a routine followup exam yesterday in the wake of the concussion she suffered several weeks ago following a fall. now, nbc news chief science and health correspondent robert bazell is live from new york there in front of the presbyterian hospital. bob, what do we know about secret
is in session but after 516 days congress has not been able to make a deal. this morning in an exclusive interview president obama said compromise will be a key to making a deal. >> it is very important for republicans in congress to be willing to say we understand we are not going to get 100%. we are willing to compromise in a serious way. >> senate leaders hoped to send a plan right about now. the talks have broken down. listen to what senate leader said on the floor a short while ago. >> now, i'm concerned about the lack of urgency here. i think we all know we are running out of time. this is far too much at stake for political gamesmanship. the consequences of this are too high for the american people to be engaged in a political messaging campaign. i am interested in getting a result here. >> we have been trying to come up with some counteroffer to my friends' proposal. we have been unable to do that. i had have had a conversation with the president and that this stage we are not able to make a counteroffer. >> what happens now? with us is cello o'donnell and kristen welker. >> we a
think congress can pull off some sort of a compromise, one thing you need to be prepared for. for many of you, your paycheck will go down in the new year and here's why. the payroll tax was cut by 2 percentage points over the last two years. experts are saying that tax holiday is coming to an end. the center on policy and budget priorities says it is about $100 billion. goldman sachs says ending the tax holiday would shave percentage points off economic growth next year, not predicted that strong anyway. let's say you make $50,000 a year. that works out to be $20 a week. if you add it up, it comes out to be a thousand dollars less that you are taking home in 2013. >> and that is just the beginning. >> that is not even the tax increases we are looking at. this is just what is taken out of your paycheck. >> we are going to keep looking for it and have the answers for you, coming up >>> rg iii and the redskins are nfc east champs, heading to the playoffs. >> that's right. coming up dave owens is one-on-one with the rookie quarterback after the big win last night. stay with us. on >>> we a
i believe has been the least productive, most confrontational, the least compromising congress in which i have served, and i have been here since 1981. the senate tomorrow will consider the sandy supplemental legislation. hopefully they will pass that tomorrow or by saturday. certainly, the house of representatives needs to address that supplemental to give relief to those that were savaged by sandy in the worst storm that has hit the northeast perhaps in history. the violence against women act passed senate overwhelmingly, something that we could work on today. the farm bill expires on december 31. milk prices will spike substantially if that bill is left to expire. mr. cantor indicated that would be addressed before we left here at the end of the 112th congress. that is some six days, a week off, four days until december 31, obviously. the foreign intelligence surveillance act, to continue making this country safe and secure and empower our people to protect us from those who would harm us, that bill is being considered on the senate today on the floor. the senate is here wor
. >>> the motion is adopted. without objection a motion to reconsider is laid on the table. >> congress passes a fiscal cliff compromise. >> the house late last night passed the senate bill that avoids the spends cuts and tax hike set to take effect later this year. >> we've set up more fiscal cliffs. we're going to look back on this night and regret it. >>> president obama urged them not to fight politics with the nation's debt limit. >> i will not have another debate with this congress over whether or not they should pay the bills that they've already racked up. >>> wall street is ready to rally this morning after the late-night budget breakthrough in washington. >>> asian markets got a big boost over news of the agramt. >>> horng congress's hang seng gained nearly 3%. >>> sandy hook elementary students are about to head back to class three weeks after a shooting. classes return to a repurposed school. >>> an open house is set for today. >>> a shell oil rig has run aground off the coast of alaska. >>> no oil is leaking. all members have been evacuated. >>> they captured photos of justin bean
into effect. today president obama called on congress to agree on a compromise plan to protect the middle class. >>> the woman who went to prison for murdering the scarsdale diet doctor in 1990 has herself died. jean harris was 89. she was the doctor's longtime lover. he developed the famous fad, the diet in the 1980s, and harris said she found him treated on her and tried to commit suicide in front of him. they wrestled over a gun and he was shot. >>> former president george h.w. bush is getting better. he is reportedly singing with doctors and nurses in the houston hospital where he is at, although he is still in the intensive care unit. the senior bush has been in the hospital now for more than a month, but his family says that they are confident that he'll be out or released soon. >>> a cancer diagnosis didn't stop one man. in fact, at 79, it is spurring him on to achieve new goal as a marathon runner. >>> plus, no more nudity in san francisco. at least not in public. it is one of the most outrageous lawsuits of the year. and of course our legal guy will weigh in. announcer ] what if
. a divided congress passes a "fiscal cliff" compromise. but there's another big threat just a few months away. >>> it is freezing outside literally [ signal breakup ] ,,,, look at you guys with your fancy-schmancy u-verse high speed internet. you know, in my day you couldn't just start streaming six ways to sunday. you'd get knocked off. and sometimes, it took a minute to download a song. that's sixty seconds, for crying out loud. we know how long a minute is! sitting, waiting for an album to download. i still have back problems. you're only 14 and a half. he doesn't have back problems. you kids have got it too good if you ask me. [ male announcer ] now u-verse high speed internet has more speed options, reliability and ways to connect. rethink possible. to give a break cancer survivor a lifetime-- that's definitely a fair trade. it was such a beautiful experience. (jessica lee) ♪ and it's beautiful (woman) why walk 60 miles in the boldest breast cancer event in history? because your efforts help komen serve millions of women and men facing breast cancer every year. visit the3day.org to reg
it will quick end in just five days if congress does not act. there is no sign of compromise between democrats and republicans. president obama has cut his vacation short and is returning to the white house now. without a budget agreement automatic tax increases for everyone and deep spending cuts will be triggered and the new year. the main dispute continues to be over taxes. americans filing unemployment last week as dropped to 350,000. futures are up right now. a letter from treasury secretary tam geithner to congress sent after the bell yesterday may also weigh on the markets. >> the woman accused of killing a grandmother and a drunk driving accident at the twin peaks without has made her first court appearance. 23 year old gina eunice is accused of a hit and run drunken-driving in vehicular manslaughter. the accident occurred three people and killed 56 year old yuee byao who was here visiting her new grandchild from china. the judge set the bail at $2 million. if she posted she must wear a scram device that checks to make sure she is not drink alcohol and is not allowed to drive. she will
the president met with congress, both local residents and people from all over the country -- >> it would be nice if the king to a compromise. >> gave us their take. many worry about the tax increases that could kick in. and they are angry we are four days a out with no deal. >> it is ridiculous. this is a necessary. >> while the republican senate minority leader is staying positive the democratic senate majority leader warns -- >> whatever we come up with is going to be imperfect and some people are not going to like it. >> the president says if a big deal cannot be reached, he wants at least a smaller deal to keep middle-class taxes from going up and to extend unemployment benefits. >> at this point, i just hope they get something done. >> click on need to come together and come to an agreement. both sides are at fault. >> reitman, this is the plan for the weekend. the senate plans to go into recess tomorrow so staff members can work on a deal. on sunday, the senate and possibly the house will reconvene and maybe vote on the bill either that day or on monday. the deadline is basically m
-- the senate passed it. let's show the american people this congress is not broken. we are not so dysfunctional we cannot work together for and come to an agreement and compromise. let's get this done. please support the fiscal cliff bills today. >> we are about to have a hold your nose vote here in the house of representatives. many of us will wrestle with the problem. we do have an opportunity to stabilize taxation for 99% of all americans to extend an appreciation. two loans are stabilized in the calendar year 2013. there is a lot in this package that is good. there is a lot in this package not just at all. it must be addressed or it will have a huge drag on the united states economy. once again, revisit the issue for the first time in american history. it is not a perfect package. it is something that gets us by while we tackle the large issues in the next congress. >> we are confronted with a bill that, if the vote full voting- age allow us to go over the ceiling or we can try to come together and pass something that neither tside of the aisle will agree with 100 percent. -- 100%. we do no
in sierra. secretary of state clinton's health she was just released from the hospital today. 113th congress coming. in join us were foxnews.com/sr online. fair balanced and unafraid. stocks sore on the first trading day of the year after the fiscal cliff compromise. john boehner house speaker tonight amid a new backlash this one over a delay in aid for super storm sandy. >> with no explanation, the rug is pulled out from all of us. this a disaster on top of a disaster. >> republicans in congress brought this house to a new low last night. >> the fact is the speaker had no choice. >> tonight, developments after a storm of anger. finally, a fiscal cliff deal. >> i think it's good that we have reached some sort of compromise, although it's kind of lame that it took so long. >> i'm almost wondering why do we even have a congress. >> this fight isn't finished. tonight, the looming battle over spending cuts and raising the nation's credit limits. plus, an oil drilling rig crunches into an island during a storm in alaska. and salvage teams now working to prevent an environmental disaster. but we b
will set in. congress set up the deadline, hoping it would force a compromise. so far, that's backfired. also flying back on air force one is lieutenant governor brian schatz and will likely be sworn in later today. just before taking off, he tweeted that he's looking forward to supporting the president's agenda. reporting live in washington, i'm dan yeielle leigh. mara, back to you. >> thank you. >>> tim geithner is adding to the pressure to get the office calf cliff deal done. in an open letter wednesday, he warned the federal government may not be able to pay its bills once the country reaches its borrowing limit on december 31st, which is monday. that could broil financial markets and lead to a financial downgrade. he proposes a series of extraordinary measures to postpone the date that the u.s. would otherwise default on its legal obligations. geithner estimates his plan would free up about $200 billion, providing roughly two months of wiggle room. >>> well, last night on "the rachel maddow show," guest host ezra klein asked former clinton budget director alice rivlin on where we c
to you, t.j. the president using the bully pulpit. this is a part of the pressure on congress but also democrats who might be skeptical of this compromise that is coming to fruition so he came out today with middle class americans standing behind him and made the argument if we do, in fact, go over the cliff, if the steep tax hikes and spending cuts kick in to effect tomorrow, that the average american would see their taxes increase by about $2,000. this is an argument that he has been making for quite sometime now and appeared on "meet the press" this week with a similar argument and the event a part of that larger message and the president started to map out the contours of the deal coming together and i can tell you that this is what we can report, t.j. they have worked out the tax issues. so at this point in time, taxes will raise on folks making $400,000, individuals making $400,000 or more. couples making $450,000. the estate tax will go from 35% to 40% and unemployment insurance benefits extended. those are some of the issues hammered out over several days. however, the big stic
-era tax cuts will expire on january 1. congress set up the deadline hoping it would force a compromise. so for that has backfired. also flying will be brian schatz. he will be replacing daniel inouye and will likely be sworn in later today. danielle leigh, wbal-tv 11 news. >> another day and another standoff. -- we're moving on to another story. police are searching for a suspect in connection with an assault in randallstown. a man has been pistol whipped and was treated at a hospital. a boy remains in critical condition after a car crash. police say the boy was in the front passenger seat that struck a parked tow truck appeared the driver had been drinking and was drowsy. >> january 1 will start the enforcement of several new laws in maryland. kim dacey is live with more on what you need to know. >> good morning. about a dozen state laws will go into effect next tuesday. we have highlighted just a few. some have been highly publicized but others you might not know about. with any new year comes new opportunities and of course new laws. after a battle, gay couples will be able to say "i do
to determine whether they can support that compromise. i am hopeful this congress will as one of its last acts not only on this compromise, but also very hopeful and would expect that we would provide the emergency assistance needed for the victims of sandy. one of the country's worst storms in history that damaged the northeast so badly. i'm hopeful we will be able to move on both of these issues. and that we will have members on both sides who perhaps will not agree but hopefully we will have members on both sides who will agree and we can act as the american people expect us to do so. >> why don't we ask -- we'll hear from the incoming vice chairman as well. >> thank you. thank you. i'll be very brief. i think the difference between a divided government and dysfunctional government is the willingness to compromise. we saw that in the senate, as leader pelosi and our whip mr. hoyer have said. that means looking at an agreement, and deciding whether on balance it helps not democrats or republicans, but whether it helps move the country forward. and we're hopeful that republicans on the house
, but there are no official development in the push for new tax legislation. there will be no fiscal clifford bury. congress does have a compromise on the farm bill. without it it was worried that no prices to jump as high as $8 per gallon. secretary of state hillary clinton remaining in new york presbyterian hospital. being treated for a blood clot. she expects to stay at the hospital another two days to be treated with blood thinner. companies officially leaving bankruptcy, a new board will be named as the company in its 4-year journey from chapter 11. that's the latest from the fox business network, giving you the power prosper. cheryl: we are getting some crucial breaking news on the fiscal cliff discussion. this learning from the white house the president is going to address the country. 130 eastern time. that is about 45 minutes from now. obviously the president is calling to make some type of statement. it is going to be about the fiscal cliff, and he will be surrounded with middle-class americans. we are also getting reports right now, there are some details that are emerging about what a deal could
, was their ability to compromise. the very structure of this institution, the united states congress, the very structure of our institution, which joined the people's house, where we are all privileged to serve, with the united states senate, was known as what? the connecticut compromise, or the great compromise. that is the very basis of our founders. too often we forget that while we should never, we should never compromise our principles, we must always, mr. speaker, we must always be prepared to compromise in the service of our principles. a couple weeks ago, "the economist" described another example of compromise -- this one that justice brandeis described as "one of the laboratories of democracy." the state of georgia. conservative republican governor, are former house colleague, and the liberal mayor of atlanta, are clearly at opposite ends of the political spectrum. yet they have managed to bridge the divide with a commitment to results. mr. speaker, together they have achieved significant gains for the good of georgia. mr. speaker, congress and the white house are perfectly capable of
of congress congress might otherwise have to make compromises. >> define compromise, okay? richard nixon and ted kennedy could compromise very easily. richard nixon wanted the government to get birg and ted kennedy wanted it to get much bigger opinion a bigger. today they are committed to principle. the democrats wanted an expansive view of the role of government. the republicans want lower taxes and spending less money. if somebody wants to go east and somebody wants to go west, what would a compromise be? i'm in favor of compromising in favor of -- we had a come mieds in 2011. the republicans wanted to cut taxes $6 trillion and we agreed to $2.5 trillion in spending cuts. dhafs -- that was a compromise. you can have compromise in the direction of liberty but raises taxes and spending more money, which is what obama wants to do is moving away from liberty. >> but you're painting it in extraordinarily stark terms. >> that's two parties are extraordinarily want to go in two different ways. >> do you have see any room in the pentagon budget for cuts? >> absolutely. serious conservatives ne
an inability as congress to reach some sort of compromise? in other words, that we are watching the decay of democracy here in our inability to do anything or accomplish anything, especially when it comes to the fiscal cliff. are you worried about the future and politics? >> i'm worried, of course i'm worried, understand for the long-term good of the country, we have to meet in the sensible center, we have to do this and we haven't been able to do it. as a democrat, i have my feelings that the tea party ultraright-wing republicans are the ones resisting, making any kind of compromise, saying my way or height way. >> to lay blame here, i'm just asking for your -- >> i'm telling you what my perception is here. and i think that nobody can say my way or the highway. we have to come together. i think what we will do is we will pass a minimalist bill so that we won't go over the cliff and then i think we have to go from there. we have the debt ceiling to deal with, when we talk about the debt ceiling, we have to have negotiations with the president who i think is doing a fine job, by the way, a
. they have not done that this -- in this go-round. there's no rallies calling on members of congress to stand firm against any compromise. what what explains that? >> i think it's a seshl movement and it's evolved dramatically from those protests in 2009. we were involved in those and those were very important at that time. you're seeing an evolution in developing sophistication at the very local level amongst activists. they're very aware of what's going on on the fiscal cliff. they're very aware of what a budget resolution is and you see that pressure applied to both republicans and democrats. >> warner: quietly. >> well, we're not a protest movement anymore. we're something else. we're going to be seating candidates, recruiting candidates in the next cycle and that's a level of sophistication we didn't have in 2009. >> warner: will the tea party exact retribution on republicans who do vote for any compromise that includes any tax increases? >> i think -- i can just speak for freedom works. i think we look at the entire two year cycle of a representative's voting records and it's not just a
hill, congress narrowly avoided a fiscal cliff. >> president obama praised the compromise saying he does not want a repeat of the bickering when it comes to the future negotiations which there's plenty still to have. surae chinn is live on capitol hill with the latest drama. >> reporter: thul this bill needs is the president's signature. he is expected to sign the bill into law. this awfully sets up for the new congress to deal with more showdowns in the future as we've been talking about all morning long in the next coming months. the late night deal that was voted by the house last night raises taxes on the wealthiest americans, including families earning $450,000. but even democratic congressman jim moran voted down the bill because it sets up more fiscal showdowns, including having to debate raising the $16.4 trillion federal borrowing limit so the government can keep paying its bills. >> the problem is we set up three more fiscal cliffs. we're going to have to deal with the debt ceiling. we're going to have to deal with the continuing resolution, expiration, and we're going to
is reached. >> both sides here have a problem with the american people, and it's why congress has an 11% job approval rating. >> frank lund says americans are fed up with gridlock in washington. >> there is no compromise, and i think that's going to grow as a concern among the public as we move into 2013. >> even starbucks is urging both sides to compromise. its employees are now writing "come together" on coffee cups in all washington, d.c., area stores. now, if congress does not act, experts believe the economy will fall back into a mild recession, duarte, by mid-2013. >> it's a tough situation. tara mergener in washington. thanks. >> coming up on the "morning news," shark tank soaker caught on tape. the glass of an aquarium suddenly bursts, drenching spectators and sending fish flying. this is the "cbs morning news." one day george got an important letter. he's built a rocket ship to travel into space." google, how far is earth to the moon? the moon is 238,900 miles... "the great moment had come." 3, 2, 1... [ giggling ] and it feels like your lifeate revolves around your symptoms, ask yo
will have to consider will be a more moderate congress and an opportunity far little bit more compromise but the truth is i think the president is hoping to go over the fiscal cliff. he can enact tax increases, cut defense spending and blame it on the republicans. the problem is we have had harry reid and the senate democrats haven't passed a budget plan in three years and they're looking at just raising taxes. we need to seriously address the spending in this country and we haven't had that from the democrats. we have to have that for things to pass. really get this deficit under control. >> all right. so keith, that was a loud sigh that you just gave. >> you heard that? >> i think everybody at home just heard that. so you obviously do not agree with alice's assessment there. i want to show debbie wasserman-schultz's quote. no 48-notice on house votes just yet. the president has a lot to gain politically with the blame on republicans for letting all of the country go over the cliff and the fact that they seem to hold on with the death grip for millionaires in this country. >> the republ
. that is the latest here at the white house. back to you. >> thank you. >>> what do you think about congress not reaching a deal on the fiscal cliff? do you think it is possible that i compromise will be reached before the deadline. share your comments on our facebook page. just search for fox 5 morning news. no space between fox and the number 5. we may share your comments on air. >> i'm sure you all have a lot to say. we would love to hear t. >>> a big story we are following. norman schwarzkopf has died. the retired general died from come indications of pneumonia. he was given the nickname stormin' norman and best known for leading international forces in iraq against shad's invasion of kuwait in 1991678 the 78-year-old managed to live a quiet retired life in tampa and kept pretty quiet on the u.s.'s decision to go to war with iraq again. >>> also this morning, former president george h. w. bush remains in intensive care at a texas hospital this morning. his chief of staff says his family is confident the 41st president will leave the hospital but expects to be there for a while. he is bat
to get a compromise on the looming fiscal cliff . they call on congress to protect the middle class from a tax income hike. senator roy blunt stated in the gop response said it was the democratics inability to pass that got them to this point. >> dock workers in the bocks have reached an agreement. long shoremen extended for 30 more days. if they can't agree workers could go on a massive strike. >> another winter storm is dumping snoy on great lakes to the east coast. >> snowfall in the new england area is expected to be 4-8: and she's off. sadey the donkey is getting to know her new family. she broke free from her yard and on the lamb for days. sadey's owner who bought the donkey for his grand kids. decided to give her up for adoption because she was too much to happenedle and i believe she has a new family now. keep it right here. after the break. country star larry gatlin talks to us about the new year. ♪ ♪ ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. for their annual football tr
been the least productive, most confrontational, at least compromising congress in which i have served, and i have been here since 1981. the senate tomorrow will consider the sandy supplemental legislation. hopefully they will pass that tomorrow or by saturday. certainly, the house of representatives needs to address that supplemental to give relief to those that were savaged by sandy in the worst storm that has hit the northeast perhaps in history. the violence against women act passed senate overwhelmingly, something that we could work on today. the farm bill expires on december 31. milk prices will spike substantially if that bill is left to expire. mr. cantor indicated that would be addressed before we left here at the end of the 112th congress. that is some six days a week off for days until december 31, obviously. foreign intelligence surveillance act, to make this country -- to continue making this country safe and secure and and power our people to protect us for those who would harm us, that bill is being considered on the senate today come on the floor. the senate is here, wo
killing creativity. >> president obama is demanding that congress act before the nation falls off of the fiscal cliff. he made this the focus of the weekly address. stiant leaders are working on a compromise bill fair and balanced debate with congressman for both studies of the aisle . another winter storm targeted the northeast. new jersey may see five inches of snow. we'll have the latest in a live report. former president george h. bush is showingly signs of improvement. let 88 year old former president is in icu in methodist hospital in houston. we are live in houston . will honor the man who led president bush's charge in iraq. remembering general swarkoph. >> and brain dead. warch warning that our children are losing creativity because they are pendent on the web. up inventor of the wind up radio. >> and google traded. it is a card catalog on the web. they don't think long-term blame the public schools and not geag emp- google. >> it is youth scrersus abuse. they can use it for a social media instead of what it is intended to. to get your intelligence a lot quicker. >> carro
to avoid the fiscal cliff. it is unclear if any can get enough votes to pass conference. -- congress. president obama says he's optimistic a compromise can be found. >>> across india today, a nationwide protest took a new heartbreaking direction. people across the country were already out in angry droves calling for justice in the wake of a brutal gang rape. then word today began to spread that the victim died in the hospital. a 23-year-old woman. six men were already held on rape charges. now they're charged with murder. >>> chuck hagel's name has been floated as president obama's potential choice for the next defense secretary. but some don't want to see the former republican senator and vietnam war vet get the position. some from his own party. this ad is in "the new york times" right here. and it says, hagel is wrong on gay rights, wrong on iran, wrong on israel. and the ad was placed by the law of cabin republicans, a group that represents gay republicans. clarke cooper is executive director. thanks for joining me, clarke. here's that ad. this ad speaks volumes. wouldn't your pa
compromise, what the country wanted, and we'll have to go to congress and find out exactly what else can be done for us to move the country forward financially. i would say this is a big victory for the president and for the people this is what the people voted for. >> you know, it's not just republicans who are members of their own party are against it. there are democrats who don't like it either. as a matter of fact, i'm heard you say the afcci 06r7b come out, literally within seconds of if being announced. they don't think it goes far enough. >> i would take issue with that. i heard what you said, and the middle class tax cuts are protected. the big three, medicare, medicaid, social security are protected. the wealthiest americans will pay more. look, they are upset because it's going from $250,000 to $400,000 on a single and $450,000 on a couple. that means nobody is going to be paying any extra tax until after this level. this is one point that the white house decided to give a little room on negotiation. but at the end of the day, this will help the economy if you believe there is
host: that will happen in january 1 if congress fails to reach a compromise, even a short-term compromise. dan on the phone from massachusetts. caller: thank you for taking my call. i would like to know how many millionaires there are in this country versus the number of people who make $250,000 and less. i think that's where the argument can bw won e won. john boehner is making a calculation and i think that is a poor population. we should roll back the reagan tax cuts. tax cuts do not work. the bush tax cuts have been designed to be temporary. we have had no job growth due to the tax cuts. forbusinesses on the hook reinvesting their profits back into the businesses. thank you for taking my call. host: the story from "the washington times." host: other candidates that have been mentioned include the attorney general in massachusetts. he ran against scott brown and loss. congressman stephen lynch. name out of contention is ted kennedy, jr. he will not seek the seat. he was speculated to seek the seat of his late father. the decision to buck the dying inouye. senator daniel
a compromise. >> pressure on congress to produce if they don't, what i've said is that in the senate we should go ahead and swrus legislation that makes sure middle class taxes stay where they are and an support or down vote. everybody should have the right to vote on that. if republicans don't like it, they can vote no. >> and everybody on the record to what they have to do. the senate won't come into session until 11:00 today. 11:00 eastern. we don't want to wake them up too early on new year's eve. it's going to he about a late night. let's speak with someone on capitol hill. republican michael burgess. a republican from texas. thank you for being up today. a lot of americans think you should be awake and probably shouldn't have too much sleep last night. pretty generally disgusted about what's been going on. give us some hope and reason not to be entirely, entirely disgusted that in 517 days of knowing this day is coming we're down to the wire. >> you know, if i sound optimistic, i guess the markets respond, so that's a lower you have given me here this morning in this secure location in w
to compromise. a lot think compromise is a dirty word. they go back to districts and say they want things 100% their way. when you have divided government, one in control of congress, the only thing that stands in the way of divided government and dysfunctional government is a willingness to compromise. and that has been in short supply and we saw that. >> certainly among some house republicans. >> we saw majority of senate republicans support this. we saw majority oppose this compromise. the good news is yesterday we avoided the fiscal cliff. i hope that will be a model. in terms of being able to get things done for the good of the country. it's got stuff in there that some people like including good things but also things many of us don't like. >> i do want to mention we did reach out to several republican representatives and weren't able to get any of them to come on. >> hopefully what we can agree on is the redskins are going to win. we're going to have a big game. >> i'm with you on that. thanks for coming in . good to see you. it's 7:42. we'll be right back . 
, a congress in which half a loaf has never been better than none. there were compromises really seem to be a foreign policy, naming a policy for him to the world's great deliberative body. >> you actually think that people are granted 2010 it got elected or the people ran before and it now ascended to positions of leadership believes that go with a solution or they were like that to not do things i supposed to do things? >> well, again, from a class of 2010 and our effort to the the 87 freshman, the so-called tea party class of the 112 congress, their belief is they are doing precisely what the people who elected them did, which is rolled back obama initiatives, cut spending. a lot that the debt ceiling should not be increased under a circumstances where they feel like i was a failure. but they basically believe their job is first to obstruct barack obama and once there is a republican president in place to pass this initiatives that create better business climate. more and more deregulation committee funding of programs that have never quite been near and dear to them. i think they
the clock and congress has to act and the president -- they have to figure out how to compromise or watch automatic headaches kick in. >> chuck todd is going -- it's going to be a long night. thanks for being with us on wall street today, this final trading day of the year. investors were hopeful of a deal would be work out by the time the closing bell rang at 4:00. stocks soared to their highest point today. the dow finished 166 points up, the nasdaq 59 points and the s&p 500 was up almost 2400 points on the day. for the year, the dow finished with a 7% gain. the nasdaq was up almost 16% this year and the s&p 500 gained more than 13%, a very strong year for stocks. so let's bring in cnbc's senior economics reporter steve liesman. steve, we just said the market was way up today, they thought we would have a deal. now we're headed over the cliff. this can't be good news for our economy. >> reporter: it definitely would not be. and if you take all the things that kelly mentioned and add them up, that's about a 4% hit to gross domestic product. we put that into perspective. we're only going
't want taxes to go up on anybody, but compromise is the order of the day and from congress for business leaders. >> david jackson, you mentioned the white house has the political upper hand here. do you think if a new deal is reached that they maintain the political upper hand going into january and going into february as the debt limit negotiations start? >> that's a very good question and that's something of concern for the white house. like i say, the real fear at the white house is that the economy will go back into recession and the white house will end up being blamed for this regardless of who may or may not be at fault right now. >> david nakamura and we alluded to this earlier that a lot of folks don't realize that this is a crisis that was created by congress. >> absolutely. a year and a half ago during the debt ceiling negotiations, they put this in place and they pushed it back to now to try to get them to this bigger deal that everybody was talking about and we had included spending cuts and a tax increase and this was supposed to be the deadline and now people are talking,
to stop. >> it must stop. but unfortunately, we're used to the republicans in congress taking us to the edge. their number one goal was to defeat president obama. they can't say the word compromise. for two years, they've held the middle class hostage. it's been nothing but obstruction. filibustering. pretty much the worse congress ever. literally. check this out. amanda at "the huffington post requests ran the numbers and found the current congress is on track to be the most unproductive since the 1940s. >> who ever said the republicans haven't accomplished anything. the do-nothing congress truman talked about? they got over 906 bills signed into law. how about speaker newt gingrich's congress. 333 bills signed into law. your congress has just 219 bills signed into law. >> the american people are sick of it. joining me now is clarence page, columnist for the chicago tribune. thank you both for being here. >> i'm glad to be here. thanks for having me. >> ryan, this "huffington post" story got a lot of coverage. >> it's as dysfunctional as anything we had in the modern era. it's g
the worst? that is, congress has always been somewhat dysfunctional and a compromise comes hard, or are we in a worse place now than we have been? i just think about the debt ceiling. we're going to get a grand bargain on debt and spending like this. that doesn't look to be the case. we're going to get a patch that gets us at some distance down the road. can congress do beg or even medium things anymore, and is that a new trend or not? >> well, it's a culmination of a trend, obviously, that's been taking place for a generation. the answer seems to be no that given the current climate in washington, dwichb the idealogical complexion within both parties, there's really not the incentive for a grand bargain. in the absence of that, what you have is apparently deadline improvization to just get past this crisis, but do no more than get past the crisis. >> although people say they want this grand bargain, but you say what about we do this and this and this. maybe people want small. i want to talk about most people come out of this -- most people who are involved probably come out of this not lo
on right now. making sure all the i's get dotted and t's get crossed. >> congress has less than 15 hours to come up with a compromise and sweet on it. live in washington kyla campbell. >>> meantime with all the focus on that fiscal cliff there is a new bill to preconvenient the so-called dairy cliff on the back burner. leaders in the house and senate agricultural committees agreed to a one-year extension of the expiring u.s. farm bill. so far no house vote is scheduled. without matting that bill, the price of milk could double next month. estimates are ha gallon of milk could go up to $8 a gallon. >>> it is 6:15. a new u.s. senate report on the attack on the u.s. consulate in benghazi blames the state department for not having a plan to rescue americans. the report says the state department failed to respond to increasing security threats in benghazi in the months leading up to the attack opinion the senate report says in the future the state department needs to decide whether they can provide adequate security for diplomats and where tit can't american personnel need to be removed. >>>
. if you are an independent, you can call 202-585-3883. should congress forge a compromise with the president, or should we go over the cliff? you can write us at facebook.com/cspan. richmond, ky. go ahead, please. caller: yes. 1 about the social security and medicare. they are not touching that. will there be a social security checks for all the old people like me in the united states? or will non-be sent out. the lady said she could not get an unemployment check. that comes from the federal government or the state, one in. i guess it just depends. host: >> we're going to go live to the senate floor. >> i just want to go on the record on the senate floor -- the sequester asked to be dealt with, substituted with other spending reductions. i am told that all of those involved in bringing this together understand even on the democratic side that was the understanding. not only was it to be dealt with through spending reductions. these were considered to be ham handed and they are -- but they are dealt with on the same time period. we were not going to reduce $100 billion of t
. and at a certain point, you know, it is very important for republicans in congress to be willing to say we understand we're not going to get 100%. we are willing to compromise in a serious way in order to solve problems as opposed to being worried about the next election. >> you said that republicans have a hard time saying yes, particularly to you. >> yes. >> what is it about you, mr. president, that you think is so hard to say yes to? >> that's something that you're probably going to have to ask them, because, david, you follow this stuff pretty carefully. the offers that i've made to them have been so fair that a lot of democrats get mad at me. i mean, i offered to make some significant changes to our entitlement programs in order to reduce the deficit. i offered not only $1 trillion -- over $1 trillion in spending cuts over the next ten years, but these changes would result in even more savings in the next ten years and would solve our deficit problem for a decade. they say that their biggest priority is making sure that we deal with the deficit in a serious way, but the way they're be
compromise is going to work. >> let's just say that what is happening at the congress right now is pathetic. we are asking not to bankrupt our children. i think most of the blame still has to go to the republicans. they have had a brain freeze since the election. they have no strategy. they don't know what they want, and they haven't decided what they want. but if i had to fault president obama, i would say sometimes he has governed like a visitor from a morally superior civilization. he comes in here, and he will not -- he'll talk with boehner. he won't talk with the other republicans. he hasn't built their trust. boehner actually made a pretty serious concession, $800 billion in tax revenues. probably willing to go up on rates. but the trust wasn't there to get that done. if the president wants to get stuff done over the next four years, it's got to be a lot more than making the intellectual concessions. it's got to get to the place where republicans say, ok, we'll take a risk. this guy won't screw us. they don't feel that right now. >> chuck, just your reading of the immediate news that'
congress takes office thursday negotiations would have had to start all over. after closed door meetings this was a vote on the fiscal cliff compromise a by partisan senate overwhelmingly passed last night. >> we have listened to the american people, we have heeded their call once again to work together in a by partisan way. >> reporter: president obama spoke minutes after the vote. one thing i think hopefully in the new year we can focus on is seeing if we can put a package like this together with less drama, a little less brinksmanship, not scare the heck out of folks quite so much. >> reporter: eric cantor voted no on the compromise. he dropped efforts to amanned the bill to add more spending cuts after failing to get enough fellow republicans to agree. >> the senate bill failed in cutting spending. >> this is unacceptable. >> reporter: the compromise makes bush era tax cuts permanent for individuals who make less than $400,000 a year and families who earn under $450,000 a year. president of the san fransisco republican assembly. >> we are spending much more than we take in. we're bor
says he is willing to give congress a little time to come up with a compromise but his patience is limited well as is the rest of the country's. ed henry with the news live at the white house. ed, first, a dramatic meeting earlier today at the white house. and then this ultimatum from the president. >> that's right, harris. it was a dramatic exchange. what i'm told by a senior white house official is that the president basically told john boehner and mitch mcconnell the republican leaders in the room here for this meeting that he wants an up or down vote on his scaled back bill to try to avoid this fiscal cliff. and he basically turned on them and said so what's your response? what's your move? the next move is yours. and then i'm told that mitch mcconnell and harry reid, the democratic leader in the senate jumped in before john boehner really got a chance to fully respond and say, look, we will take the ball and try to pass a bipartisan bill in the senate. the president responded by saying i will give you a day or two but we're running out of time. if you don't get it done in t
one drama is over but the stage is sill set for new battles and debt and spending this after congress finally passed a compromise from tumbling off the so-called fiscal cliff. but the deal which the president says he will sign also includes an a cross the board tax hike with payroll taxes going back up for every american worker. while the senate overwhelmingly passed the deal it was a different story in the house. house speaker john boehner and paul ryan backed it, 167 other lawmakers in the house did not and they included eric cantor and house majority whip kevin mccarthy, as other republican lawmakers blasted the deal. >> today's agreement inch vine inshrines this into law for as long as i am president. the deficit needs to be reduced and balanced. everyone pays their fair share and pays their part. that's how our economy does best. jenna: peter doocy live at the white house. what was the main reason they gave for not supporting it. >> reporter: because this bill which orange natured in the senate and passed by own overwhelming 89-8 vote margin has $620 billion in new tax hikes and
the fiscal cliff, i have to react. so i know where i need to pull back. >> can congress agree to a compromise deal before the end of the year? tune in to "squawk box" tomorrow at 6:00 a.m. eastern for up-to-the-minute coverage for the fiscal cliff talks. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now this...will work. [ male announcer ] just like you, business pro. just like you. go national.
to compromise on taxes and that's not what congress wants to hear. they can say it until they're blue in the face. they should go directly to lawmake lawmakers. they may be dock that. it's definitely how they feel. these biggest of ceos really want this deal to happen and it's time to compromise to end the paralysis. that is far and away the message across business and across wall street. >> leigh, i imagine they want this because it affects the bottom line for these companies in a way that washington politics maybe didn't before. is washington and sort of wall street becoming closer in terms of their relationship here? >> definitely. you know, it's funny, it used to be wall street was really focused on mechanics of companies. companies fundamentals. how did coke do this quarter? now they're much more focused on the macro because the macro is moving stocks and moving the market. things like europe, the european debt crisis, things like our fiscal cliff crisis, a slowdown in china. this is how stocks are moving right now. it's no longer how many cannes of coke did we sell last quarter.
a congress that will work with an eye toward a compromise, and that's not what they've been getting from the republican side. the bottom line is i hope we don't go past these fiscal deadlines, but based on what they've been demanding, which is that we stick it to people on social security and leave millionaires, that's just not going to work. >> congressman, thanks for joining us. >> thank you. >>> next, the gop in disarray and a tea party cue day tay. stay with us. >> neither does tim geithner. he gives a speech about hitting the debt ceiling. i'd like to see if he could count to a million much less $16.4 trillion! jishths ♪ [ male announcer ] it started long ago. the joy of giving something everything you've got. it takes passion. and it's not letting up anytime soon. at unitedhealthcare insurance company, we understand that commitment. and always have. so does aarp, an organization serving the needs of americans 50 and over for generations. so it's no surprise millions have chosen an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all sta
way. my colleagues, let's join together today. let's show the american people that this congress is not broken. that we are not so dysfunctional that we can't at minimum work together, come to agreement, compromise. let's get this done. this is too important for the american people to let this go one more day. please join me in supporting the fiscal cliff bill today. yield back my time. the speaker pro tempore: the gentleman yields back. for what purpose does the gentleman from virginia seek recognition? >> i ask unanimous consent toe address the house for one minute -- to address the house for one minute. the speaker pro tempore: without objection, the gentleman from virginia is recognized for one minute. mr. connolly: thank you, mr. speaker. we are about to have a hold your nose vote here in the house of representatives. and many of us are going to wrestle with the problem of making perfect be the enemy of the good. we do have an opportunity to stabilize taxation for 899 -- 99% of all americans. to extend appreciation and investment expansion for small businesses. to make sure
on cups to push members of congress to come to a deal on the fiscal cliff. shultz followed up with a blog saying everyone should put the pressure on congress. >>> a cartoonist went a more pessimistic approach. a box labeled deficit crisis compromised saying do not open until with all the holidays crossed out signed by boehner and obama. >>> all featured on politico's list of the top viral videos of 2012. the politico ones, of course. here's a look back. >> in the silvery moonlight that bathes every town, the people lie dreaming so safe and so sound. they're warm in their beds, snuggled up in the sheets. but four years before, they were out in the streets. sorry, my friend, but there's no time to snore. we're all on our own if romney has his way. and he's against safety nets. if you fall, tough luck. so i strongly suggest that you wake the [ bleep ] up. >> there's only one thing that might deny us the presidency that is the god-given property and he's against safety nets. if you fall, tough luck. so i strongly suggest that you wake the [ bleep ] up. >> there's only one thing that might den
of the cliff. >> we want to know your thoughts on all of this. what do you think about congress not reaching a deal on the fiscal cliff. do you think it is possible that a compromise will be reached before the deadline. you can share your thoughts and comments on facebook, on our fob page. just search for fox 5 morning news, no space between fox and the number 5. we may share your comments on air. >>> now to a big story we are following as we learn of the pass aifg decorated u.s. general. >> general norman schwarzkopf passed away yesterday after battling pneumonia. we have a report. -- the passing of a decorated u.s. general. >> reporter: the commander of u.s. led international coalition forces that drove shad out of kuwait in 1991 has died. general schwarzkopf was a much- decorated combat soldier in vietnam and was possibly known as stormin' norman. former president bush approved the following statement. statem >> in the late '80s, general schwarzkopf was promossed to general and later appointed commander in chief of the u.s. central command. general colin powell released this statement whi
. there will be more deficit reduction as congress decides to do -- what to do with the automatic spending cuts. i want to make this point. as i have demonstrated, i am very open to compromise. i agreed with democrats and republicans that the aging population and the rising cost of health care makes medicare the biggest contributor to our deficit. i believe we have got to find ways to reform that program without hurting seniors, who count on it to survive. i believe there is further unnecessary spending in government that we can eliminate. but we cannot simply cut our way to prosperity. cutting spending has to go hand- in-hand with further reforms to our tax code so that the wealthiest corporations and individuals cannot take advantage of loopholes and deductions that are not available to most americans. we cannot keep cutting things like basic research in new technology and still expect to succeed in a 21st century economy. we are going to have to continue to move forward in deficit reduction. we have to do it in a balanced way, making sure we are growing even as we get a handle on our spending. one l
banning americans from adopting russian kids. >>> maybe congress should take lessons from dock workers and employers. they came up with a compromise to avoid a strike that could have cost our economy billions. >>> the meeting of the minds in the middle is next. [ all ] 3, 2, 1... [ male announcer ] as the year counts down, your savings can add up with the adt new year's sale. help protect your family with the advanced technology of adt starting at just $99 -- a savings of $300 plus 15% off accessories. but you must call before midnight january 2nd. more than a security system, adt can help let your family in from the cold even when you're away from home. adjust your thermostat remotely to help save energy and money. turn on the lights, even see that everyone is safe and secure. and with adt, you can rely on our fast response monitoring for 24/7 protection against burglary, fire, and high levels of carbon monoxide. the adt new year's sale. it could help you save something more important than money. call now to save $300 on adt starting at $99 installed plus 15% off accessories. sale end
of compromise. i've been here a long time. i have made a lot of compromises. >> that's tom harkin, the democratic senator from iowa saying this deal doesn't look good to him. if a deal is reached in congress, the president still has to sign it. president obama set his terms and challenged the house and senate to get it it done. brianna keilar joins me now. is the president just sitting in the oval office waiting for a bill to get delivered to him? where's he in all of this? >> reporter: vice president biden is very much the president's proxy in all of this. it's easy to understand why. both the president and vice president served in the senate, but biden served in the senate for decades with all of the players that he now has to engage with. he knows the personalities. he knows the rhythms of the senate and of congress better than president obama, you could argue. it makes sense that he's serving as the president's proxy. this is something the president is engaged with. this is something the white house is very engaged with. he said yesterday he's optimistic that a deal can be str
with members of congress, the democrats, obviously, to push forward on negotiations to make sure that the house passes some version of a compromise to make sure that the country does not face severe tax hikes, as well as spending cuts. there is a deal on the senate side now, the house has to convene and figure out whether or not they approve of that version, whether they are going to amend it or if they've got their own version in hand and that, of course, is the work of the vice president as well, even if the fiscal cliff deal is passed, many of us going to end up paying more taxes than we did last year, that's because the payroll tax cut was allowed to expire. nobody's trying to revive that. i want to bring in our business correspondent christine romans to join us, talk about this. what is the difference here? this tax cut, it's been around since, what, 2009 or so, to boost the economy. tell us how the payroll tax is different than the others. >> the payroll taxes come out of your paycheck automatically and used to fund social security. costs dids 120 billion for the treasury department to in
hamilton on supermajority rule. and he said supermajority rule in congress would lead to -- and i quote -- "tedious delays, continual negotiations and intrigue, contemptible compromises of the public good." that's what hamilton thought. you know that overlays pretty well with a lot of what we see on the floor of the senate today. how about madison? madison had commentary on this. and he said "the fundamental principle of free government would be reversed" if this chamber did legislation by supermajority. why did he say that? because it would mean the path chosen by the few would prevail over the path chosen by the majority. there's a lot of nostalgia when people think back to a time when the filibuster was an instrument of principle. many americans think about this. they think about the movie where jimmy stewart portrays jefferson smith, a new newcomer to the se. he comes to the well of the senate, and he fights for the principle of avoiding corrupt practices regarding a voice cam. he didn't have to take the floor and demand a supermajority vote, blocking a simple majority. but he was d
. >> this congress.. as been most condone for the on the ability to compromise. or the willingness to not come together to work act on behalf of the best of the american people. taxes will be going up on everybody in america if we do not act. we hope that our colleagues can reach a compromise. >> reporter: they're thinking that there could have been an amendment added but that decision is still this fails, that taxes will go for middle-class families. and unemployment benefits will lapse. >> catherine: michael yaki is here. >> this is basically your social security tax that was lowered. nobody really talk about extending that and some people think that that could be a bit of a drag on the economic recovery. that is something that you could still see. >> this is the ongoing house debate. >> and michael, >> this is the first cleiff the debt ceiling could also be delayed and released. by mid-march, basically there's a convergence. and when you call the last time the debt ceiling problem is when this his entire how this started. the numbers are going to be bigger. and it cost billions of dollars
's efforts to cut a compromise deal. the democrats know that they are the ones that have the upper hand in the fight and if we go into the new year, a new congress will be sworn in. democrats will have more seats in the house and the senate and they feel they will have a better chance of getting a deal on their terms in 2013. >> in the dying days of 2012 it looks like japan pose a new leader has injected a local, at least financially. he's had his first day as the new prime minister. abe has been talking about reviving the economy and investors are still a little more optimistic. the nikkei average has climbed to a 21 month high. that's against the u.s. dollar. good for japanese exporters. a former adviser to the japanese foreign ministry says that abe will have a tough time fixing the economy because a, japan's because of japan's large budget deficit. >> the japanese fiscal cliff will be larger than the one in the united states, because japan's financial burden is considerably heavier than the other developed nations. in order for japan to put its fiscal house in order to, japan is lau
as the fiscal cliff looms and congress can't seem to compromise. arthur cooper one of those. the owner of an internet marketing company. he is concerned that the change this tax rates will hurt his ability to hire. he says the uncertainty is making him run his business defensively, making decisions based on business already coming in because he can't risk losing it all. >> knowing the rules has -- is much more important than what the rules really are because then you can actually say, okay, this is what we can do and this is what our margins are going to look like and this is what we are going to be able to plan on. >> economists say one of the effects of the fiscal cliff is that businesses are now holding back on spending money whether it be investing in stock, machinery and equipment needed for the company or products they sell. and for a slowly strengthening economy, the shock of less spending could be all it takes to push the country back into a recession. >> businesses are not hiring workers now at the pace we would expect because the small businesses say we can't hire right now u
deadline, senate majority leader mitch mcconnell and vice president joe biden emerged with a compromise on taxes and agreed to wait on slashing spending. >> this was the mini cliff. the big cliff still lies in front of us. >> reporter: president obama had scolded congress for waiting so long. >> one thing we can count on with respect to this congress is that if there's even one second left before you have to do what you're supposed to do, they will use that last second. >> reporter: the bush-era tax cuts remain in place for individuals earning as much as $400,000 a year, far above the 250,000 level on which president obama campaigned. but those making more will see higher income taxes, capital gains, plus a new health care reform surtax. rob wood says you'll notice in your paycheck one popular tax cut will be history. >> the average person, say, earning $50,000 a year is going to pay about $1,000 more in payroll taxes in 2013. >> reporter: the fiscal cliff agreement also increases taxes on estates worth more than $5 million and extends unemployment benefits for one year and keeps the ch
that there are fundamental disagreements. congress insisted and the president compromise included a heavy lift rocket development. the space launch system compete for the same diminishing resources. since the commercial core program supports the i.s.., perhaps should be funded by the space operations budget. the administration, congress and should look for ways -- we're in a challenging budget environment. fiscal realities demand that nasa become more efficient. consensus has to be established among agency stakeholders, and also to clarify nasa's strategic vision, goals, and mission. the good work that nasa has done and that nasa can do in the future is so very important to me, and to everyone here in this room. i want to preserve our international space station. it is not likely with this electorate than we can expect to go to mars until people can go to the grocery store. it is about the economy. the economy has to improve. i went to work together to insure the american people to get the kind of results that nasa is capable of producing. we have a distinguished panel of witnesses today. this should
closely with congress, and, again, i -- often i'm -- i'm critical for congress for not coming to the table and compromising. critical for trends for saying my way or the highway. but at some point, we've got to take care of a lot of people like folks in my district, who through this deal will at least be able to get unemployment benefits, and a number of others that mean something to middle class families. >> are we setting up ourselves for fight after fight on budget issues in this country? i don't feel like we've fixed the problems with the process. i'm real worried about two years, three years, ten years of fiscal cliffs because we have huge debts, huge deficits. >> christine, you asked the perfect question. that's my worry. and we've got the debt ceiling debate coming up in about two months, and that was something at one time, and subpoenaing a lot of time is you did get it. at some time we have to change our politics in washington. one of the good things about getting this done, although we may not like it, at least it says to the american people they put their heads together and able
off the fiscal cliff kill this one bright spot in the economy which is housing why can't congress make a deal? it had months to compromise and there's nothiig out there. the dow is down 88. copd makes it hard to breathe, but with advair, i'm b. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and shou not be used more than twice a day. people with copd taking advair may have a higher chance of pneumonia. advair may increase yo risk of osteoporosis and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking advair. if you're still having difficulty breathing, ask your doctor if including advair could help improve your lung function. get your first fu prescription free and saveon refills at advaircopd.com. >> announcer: you never know when, but thieves can steal y
planning his next move in the two sides cannot carve out a compromise. >> the pressure is on congress to produce, if they don't, what i've said is that in the senate we should go ahead and introduce legislation to make sure middle class taxes stay where they are and there should be an up-or-down vote. everyone should have the right to vote on that. if republicans don't like it, they should vote no. >> brianna keilar joins us live from washington. the house and senate reconvene in a few hours. this is kind of procedural. two options here, one is that the senate, mcconnell and reid, working with biden, come up with a deal and vote on it, and the house of representatives gets that, or option b, which is what the president is talking about, you don't come to you adeel, you take the proposal the president had, and everybody gets to vote on it. >> everybody gets an up-or-down vote. in the senate, the threshold is generally 60 for the procedural vote going into it, that was his point. an up-or-down vote. as of right now, we're not hearing that, and it seems -- that would require the senate m
willing to compromise with republicans on future deficit reduction but the next breath he suggested i am not compromise on the debt ceiling. >> i will negotiate over many things, i will not have another debate with this congress over whether they should pay the bills they have racked up through the laws they passed. >>reporter: he means the white house believes a year and a half ago when they had the debate about the debt ceiling it hurt the markets, scared consumers, and had a damaging impact on the economy. they believe previous presidents have been able to get congress both of democrat and republican control to extend the debt ceiling but now the debt so high, that it is a major, major debate. >>gregg: finally, many republicans say the debt ceiling fight is their only way to get the president to cut more spending. is that their biggest leverage? >>reporter: it is. republicans took a beating over the fact that the deal has tax increases for the rich but did not have the spending cuts that speaker boehner and others called for. they believe the debt ceiling fight is the only way to forc
's an artificial crisis created by congress itself. they could solve this thing in ten minutes with ample compromise on both sides. while the country is following this news, it's not a breathless anticipation. >> the only thing that is starting to sink in with people, howie, where i think it is getting more public attention is that people are now realizing that their paychecks really will be a lot lower very soon if nothing gets done. therefore, i think it is very legitimate interest that finally is getting done when it is sinking in on people that they will have an immediate pocketbook impact if nothing gets done. >> if there is a last-minute sort of minor compromise, bob cusack, where both sides agree to put off the majority of the tax increases or to extend the bush tax breaks for all but the richest but doesn't do anything about the automatic spending cuts which is hundreds of billions of dollars. we'll all call it a deal, but it won't really be a deal, will it? >> we'll deal with the debt for years and years and, also, the other thing is this bill possibly could actually increase the
people in congress right now who see compromise as a dirty word. they see it as a like a four-letter word, as something they have to stay away from. and it is not, not just the gop. because many democrats also run against washington. run against government. >> jehmu is exactly right. rick: dee dee, last word here. 10 seconds. >> the fat cats are not getting it done. we need to forget rid of them. forget it. it is not a good deal. we need to do what is right for the american people and this ain't it. rick: happy new year. happy and healthy. see you again real soon. heather: amateur video capturing a harrowing moment whether a rescue helicopter crashes into the water off of a crowded beach in brazil. take a look. police say that this chopper was trying to rescue a drowning swimmer when it suffered engine failure. you can see what happened next. look, plunging into the ocean. well the good news the crew managed to escape before the helicopter began to sink. the four crewmembers and the stranded swimmer, by the way all able to swim to shore. they survived with minor injuries the helicopter wa
in the same period. the point is that members of congress who are elected in hyper partisan districts have no incentive to compromise. i think that's a true explanation as far as it goes. gerrymandering has become a massive problem. and add in closed primaries, nominating contests open to only party members where the most reliable voters ar
fact that congress actually did -- the house of representatives did approve the compromise deal to avoid going over the fiscal cliff late last night, and now they are trying to find out what is in this deal or what is not in the deal and how good or bad is it. we're trying to sort it all out with arthur delaney, who covers the hill for the "huffington post." and is the editor to the huff post newsletter. peter what sup on social media. >> we're tweeting @bpshow. 250,000 and above would have been the top 2% but 400,000 to 450,000 represents .016% of americans. and if you want to know exactly what people care about aria says i hope it means i can find a job soon. >> bill: president obama did say last night before he left to rejoin his family he said i want to make thing clear, i am not going to have another debate with congress with raising the debt ceiling. it's one thing to say that but it's another thing to make it happen, right? >> the way he negotiates is -- >> bill: to give away the store. >> yeah. >> bill: i think he will hang tough on this. because i
some compromise. >> suarez: representative van hollen, let me turn to you. in this sort of situation, the clock is running. the congress is coming to its final hours. what does a minority party do in a situation likehis? can you keep all your members poised and ready to go til such time as the majority is ready to call the motion? >> well, yes, we can. ray, what we have here is a very alarming situation. you had a bipartisan compromise vote in the united states senate. 89 out of 100 senators, republicans and democrats together for the good of the country and to avoid the fiscal cliff, passing this agreement. now you have the situation in the house right now where we the democrats have asked for an up- or-down vote on that bipartisan compromise bill, and so far the word we're getting is we're not going to have that opportunity. that is a clear signal that republicans in the house are taking us right over the fiscal cliff. i wished the entire republican caucus was as reasonable as the colleague of mine and friend who is standing right next to me who is a very conservative republican, b
. you can get through but it is down to one lane. >> congress has nearly avoided a fiscal cliff. the republican-led house of representatives agreed to a compromise late last night less than 24 hours after the deal pass the senate. the final house vote was 257 to 167, with 85 republicans joining democrats. the vote capped off weeks of back and forth between chambers. president obama praised the compromise saying he does not want a repeat of the bickering in future negotiations. >> the one thing that i think we will focus on is seeing if we can put a package like this together with a little less drama. not scare the heck out of folks quite as much. we can come together as democrats and republicans. we can cut spending and reduced revenand increase revenue for everyone who was willing to work hard. >> the bill keeps income tax is just about the same for everyone except for people making $400,000 a year or more. it also delays automatic spending cuts in defense and government programs for two months and extends long-term unemployment than the benefits that were set to expire. the me
by congress. what set off outrage among lawmakers last night. >>> topping this morning's news alert now, the house passed the fiscal cliff compromise late last night, clearing the way for president obama to sign it into law. it's being hailed as a victory for middle class families, but you will still see or still take a hit on your pay check this year. >> the social security tax cut is ending, so the payroll tax will return to 6.2%. for an average family making about $50s a year, that amount -- $50,000 a year, that elements to $1,000 less that you'll take home in 2013. one thing the house did not vote on last night was aid for superstorm sandy recovery. the decision leaving new york and new jersey lawmakers from both parties angered. the senate had approved a $60 billion in aid to help with the recovery. a house committee then designed a smaller $27 billion measure, but the current term of congress ended before a vote was held. the 113th congress will be sworn in today. no word on when a vote on the aid package will be held. >>> also making headlines this morning, good news on an oil d
the american people, move on to the other areas of disagreement. maybe we can even find some compromise. >> suarez: representative van hollen, let me turn to you. in this sort of situation, the clock is running. the congress is coming to its final hours. what does a minority party do in a situation like this? can you keep all your members poised and ready to go until such time as the majority is ready to call the motion? >> well, yes, we can. ray, what we have here is a very alarming situation. you had a bipartisan compromise vote in the united states senate. 89 out of 100 senators republicans and democrats together for the good of the country and to avoid the fiscal cliff passing this agreement. now you have the situation in the house right now where we the democrats have asked for an up-or-down vote on that bipartisan compromise bill and so far the word we're getting is we're not going to have that opportunity. that is a clear signal that republicans in the house are taking us right over the fiscal cliff. i wished the entire republican caucus was as reasonable as the colleague of mine
unemployment benefits for some 2 million people. since congress missed the deadline last night, technically the country has already gone over the fiscal cliff. the bush-era tax cuts have expired so everybody's tax rates have gone up but if a compromised bill is passed, retroactively they can pass it. >> this represents the least we could have done under these circumstances. >> it fails to address the mortal threat -- uncontrolled spending. >> reporter: there's one deadline they cannot ig know. >>> the new congress begins monday at 12 p.m. karen travers, abc news washington. >> we have more at abc2news.com. just head to our home page and look for the featured stories. >>> all right. a lack at maryland's most powerful radar. very little of that precipitation has made its way north. all of it well, well south. conditions are still dry. clouds are holding tough around the area. that storm is staying south and still pretty cloudy around here. again, we stayed nice and dry. upper 30s in reisterstown, hick core ri and man chester. 42 in pape pea. cloudy and dry, getting cold. colder still as we go
as a reduction as congress decides what to do about the automatic spending cuts now delayed for two months. i want to make this point. as i have demonstrated throughout the past several weeks, i am open to compromise. i agree with the democrats and republicans that the aging population and the rising costs of health care makes medicare the biggest contributor to our deficit. i believe we have to find ways to reform the program without hurting seniors to count on it to survive. there is further unnecessary spending in government that we can eliminate. but we cannot simply cut our way to prosperity. cutting spending has to go hand in hand with further reforms to our tax coats of that the well as corporations and individuals cannot take advantage of loopholes and deductions that are not available to most americans. we can i keep cutting things like basic research and new technology is still expected to succeed. we are going to have to continue to move forward attended as a reduction but we have to do it in a balanced way, making sure we are growing, even as we get a handle on our spending. one l
coming victory, everybody seems to be mad. now moody's is warning, their compromise does not go far enough to protect our country's aaa rating and is urging congress to do more. with more on this, democratic strategist, director of communications for american crossroads and ed rollins, republican strategist and fox news contributor. i'm going to start with you. you have the most experience with these kinds of things. moody's has already saying, ready warning, already sending a blank saying we're not where we need to be. what do you make of this? >> it's a disaster. you have not only raise taxes on the more well-to-do but basically handicapped yourself. try and raise more revenue. as the grippy have to go to again and there is always a net loss. you take a couple hundred thousand away from someone making a million. it has also split the republican party. clearly put in the speakership in jeopardy. all they're looking for is a horse. pro the have the votes to dump him. that is a terrible place to begin. you still have not got 1 penny from the deficit. gerri: you like this deal. i have
republicans. and stop the presses, there will be a bipartisan vote in congress and in the house, which we don't see a lot of on big, important and divisive issues, but it is because this is something that nobody loves because that's what compromises are, but there certainly seem to be enough house democrats, enough house republicans that they'll come together and vote on this for the simple reason that they understand that this really does matter to americans because officially, starting today, every american's taxes have gone up. they want to correct that as we've seen on press release after press release, 99% of americans to keep those in place. >> is john boehner sticking to the old rule, the denny hastert rule, that you need a majority to bring it up for a vote. if the majority is not there of the republicans who are the majority in the house, he is not going to bring it up for a vote, or are they discarding that give this current crisis? >> he's never been officially wedded to that majority of the majority idea. that has certainly been his goal in most if not all of the legislation that
congress has 11% job approval rating. >> reporter: republican pollster frank lund says americans are fed up with gridlock in washington. >> there is no compromise and i think that's going to grow as a concern among the public into 2013. >> reporter: even starbucks is urging both sides to compromise. its employees are writing "come together" on coffee cups in d.c. tara mergener cbs 5. >>> a majority of americans are satisfied with the job the obama administration is doing right now. that's the finding of a cnn poll. 52% approve the president's jo performance. 54% feel vice president joe biden is handling his job well. first lady michelle obama has the highest approval rating at 73%. >>> 5:09. coming up, this school gets our approval rating. ♪ [ music ] they are pretty good there. how they're teaching students with special needs how to find power in music. >> plus, a big rockslide leaves a mess for caltrans workers in big sur. how long it's going to take to clean up all those rocks and much. more when we come back. caltrans is still removing e rocks and making road repai after >>> now i'm s
a compromise. >> now today it appears that an agreement to prevent this new year's tax hike is within sight. but it's not done. there are still issues left to resolve, but we're hopeful that congress can get it done. >> senate republican leader mitch mcconnell said the two parties had reached an agreement on taxes. they are believed to have agreed to extend tax cuts for middle income earners. people earning more than $450,000 per year will see their taxes go up. that's far higher than obama's original proposal. they have yet to agree to suspend spending cuts. the democrat led senate is expected to pass the bill on new year's eve. the republican led house says it will not vote on the bill before the midnight deadline. members of congress are expected to work on a stop gap measure to prevent any serious fiscal impact. the fiscal cliff has become a term many people even outside the financial markets are talking about. if the u.s. economy falls off this cliff, ripple effects are expected. >> reporter: the term fiscal cliff has been making headlines recently. here's a brief explanation. it's a t
.baristas are writing the words, "come together" on customers' coffee. >> people are tired that congress can't come to a compromise or agree on anything. >> reporter: but even that doesn't seem to be moving lawmakers. >> taxes are approaching the wrong direction. come the first of this year, americans will have less income than they have today. >> reporter: senate democratic leader harry reid, back from christmas break, was highly pessimistic about passing anything to avert the fiscal cliff and keeping all americans' taxes from going up january 1st. >> i have to be very honest, mr. president. i don't know, time wise, how it can happen now. >> five days until the fiscal cliff, and both sides are engaged in legislative and political chicken. the president called each of the four congressional leaders before leaving hawaii. in his conversation with the senate republican leader, mitch mcconnell told the president, he must see details of any democratic proposal before agreeing to allow a vote, according to a mcconnell aide, who also said it was the first time the two men talked since thanksgiving. >> we
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